USA – Inovalon, a cloud-based platform provider that enables data-driven healthcare, has announced an expansion of its partnership with Walmart Inc to get a full view of the patient’s journey.
This new multi-year agreement will give retailers access to Inovalon’s industry-leading Data Insights solution, which will accelerate the transition to a more patient-centered health model through the use of large-scale analytics.
Walmart has been collaborating with Inovalon since 2020, and will now benefit from the company’s largest and most diverse datasets, which are among the largest and most diverse in the industry, for a more complete and accurate view of the patient journey.
Following the agreement, management will extend its relationship with Inovalon until 2028 while expanding the use of ScriptMed Cloud to improve clinical care management of complex patients at Walmart’s retail pharmacies across the country.
Walmart launched an initiative in June to improve customers’ shopping experiences by offering convenient, easy, and quick options. In this vein, the company broadened and deepened its partnership with Inovalon INOV, a well-known provider of cloud-based platforms in the healthcare space.
In addition, the company introduced new Inovalon ONE Platform functionality. With the introduction of Inovalon’s ScriptMed Cloud offerings in 2020, the two parties formed their first partnership.
Noteworthy, Walmart employs Inovalon’s cloud-based capabilities through the Inovalon ONE Platform across its pharmacies nationwide as part of its data-driven strategy. This assists the retailer in improving the outcomes and economics of its customers.
Overall, Walmart is focusing on its patient-centric approach to improving customer experiences. In this regard, the company recently added Walmart+ Rx for less to its Walmart+ membership program.
Members will benefit from incremental savings on commonly prescribed medications for allergies, antibiotics, heart health, mental health, and diabetes management, among other things.
Certainly, the latest development between Walmart and Inovalon brings the former, one step closer to achieving the goal.
In other related news Luma Health, a patient engagement platform based in San Francisco, USA, bagged US$130 million in Series C funding round for enhancing patient journey experience.
The capital brought the company’s total funding to US$160 million. The round was led by FTV Capital, a sector-focused growth equity investment firm, with participation from existing investors.
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